Formula One still 'key' for UBS after trader's billions blunder

Global Motorsport Media

A spokeswoman on Thursday insisted UBS's major Formula One sponsorship is still on track.

Formula One flag
Formula One flag

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The Swiss bank made international headlines last week when it emerged a so-called 'rogue trader' had blown a $2 billion hole in its books.

According to Reuters, the UBS board met on Thursday ahead of the Singapore Grand Prix at the city-state's One Raffles Quay tower.

"F1 is a long term sponsorship platform which constitutes a key element of our branding activities," a spokeswoman said in Singapore.

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Series Formula 1
Tags singapore gp, ubs